OMB No. 1545-0123
SCHEDULE I                     Interest Expense Allocation Under Regulations 
(Form 1120-F)
                                                               Section 1.882-5
Department of the Treasury                                     ▶ Attach to Form 1120-F.                                                2021
Internal Revenue Service           ▶ Go to www.irs.gov/Form1120F for instructions and the latest information.
Name of corporation                                                                                                     Employer identification number

A     Check here if the corporation is a foreign bank as defined in Regulations section 1.882-5(c)(4)       .  . . .       . .    . .  . .   .   .   .  ▶
B     This Schedule I is being completed with respect to (check one):
       Adjusted U.S. booked liabilities method under Regs. sec. 1.882-5(d). Complete lines 1 through 15 and 21 through 25.
       Separate currency pools method under Regs. sec. 1.882-5(e). Complete lines 1 through 9 and 16a through 25.
Step 1 Average U.S. Assets for the Tax Year: Regulations Section 1.882-5(b)
   1  Specify the method used to determine the value of the                      (a)                                         (c)                 (d) 
      corporation’s U.S. assets on lines 2 through 5 below (check one):  Set(s) of Books That           (b)        Set(s) of Books           Totals 
                                                                          Give Rise to U.S.        Partnership     Other Than Those 
       Adjusted basis method: Regs. sec. 1.882-5(b)(2)(i)                 Booked Liabilities        Interests        Described in        (add columns (a) 
       Fair market value method: Regs. sec. 1.882-5(b)(2)(ii)             (see instructions)                     Columns (a) and (b)       through (c))
   2  Total assets per books  .    . .    .   .    . . .    .  .    .
   3a Total interbranch assets  .  . .    .   .    . . .    .  .    .
   b  Total non-ECI assets under section 864(c)(4)(D)  .    .  .    .
   c  Total other non-ECI assets (attach statement-see instructions)
   d  Adjustments  for  amounts  from  partnerships  and  certain 
      disregarded entities included on line 2, column (a)  .   .    .
   e  Adjustments  for  assets  that  give  rise  to  direct  interest 
      expense allocations under Regs. sec. 1.882-5(a)(1)(ii)   .    .
   f  Other  adjustments  to  average  assets  included  on  line  2 
      (for example, mark-to-market differences) .    . .    .  .    .
   4  Combine lines 3a through 3f .  .    .   .    . . .    .  .    .
   5  Total value of U.S. assets for the tax year  . . .    .  .    .
      Column (a): Subtract line 4 from line 2.  
      Column (b): See instructions for amount to enter. 
      Column (c): See instructions for amount to enter.
Step 2 U.S.-Connected Liabilities for the Tax Year: Regulations Section 1.882-5(c)
   6  Specify the method used to determine the amounts in Step 2 (check one):
       Actual ratio under Regs. sec. 1.882-5(c)(2). Complete lines 6a through 6c below.
       Fixed ratio under Regs. sec. 1.882-5(c)(4). Complete line 6d below.
   a  Average worldwide liabilities  .    .   .    . . .    .  .    .   .    . . .    . .     . .       6a
   b  Average worldwide assets  .    .    .   .    . . .    .  .    .   .    . . .    . .     . .       6b
   c  Divide line 6a by line 6b  . . .    .   .    . . .    .  .    .   .    . . .    . .     . .       6c                     %
   d  Fixed ratio under Regs. sec. 1.882-5(c)(4). If the corporation is a foreign bank as defined 
      in Regs. sec. 1.882-5(c)(4), enter 95% on line 6d. If the corporation is not a foreign bank 
      or an insurance company, enter 50% on line 6d  .      .  .    .   .    . . .    . .     . .       6d                     %
   e  Enter the ratio from line 6c or 6d, as applicable  .  .  .    .   .    . . .    . .     . .     . .   .  . . .       . .      6e                   %
   7a U.S.-connected liabilities before Regs. sec. 1.884-1(e)(3) election(s). Multiply line 5, column (d) by line 6e  .    . .      7a
   b  U.S. liability reduction under Regs. sec. 1.884-1(e)(3) election  .    . . .    . .     . .     . .   .  . . .       . .      7b
   c  U.S.-Connected Liabilities. Subtract line 7b from line 7a  .      .    . . .    . .     . .     . .   .  . . .       . ▶      7c
Step 3 Interest Expense Paid or Accrued on Average U.S. Booked Liabilities: Regulations Section 1.882-5(d)
                                                                                        (a)                                                  (c) 
                                                                                 Set(s) of Books That            (b)                     Totals 
                                                                                 Give Rise to U.S.             Partnership             (add columns 
                                                                                 Booked Liabilities              Interests               (a) and (b))
                                                                                 (see instructions)
   8  Total  average  amount  of  U.S.  booked  liabilities  as  defined  in 
      Regs. sec. 1.882-5(d)(2) (see instructions)  . . .    .  .    .   .
      Column (a): Do not include amounts that give rise to directly 
      allocable interest under Regs. sec. 1.882-5(a)(1)(ii) or from 
      partnerships includible in column (b).  
      Column (b): Enter the portion of the total from Schedule P, line 
      11, that constitutes U.S. booked liabilities.
   9  Total interest paid or accrued during the tax year on line 8 amount  
      Column (a): Do not include amounts that give rise to directly 
      allocable interest under Regs. sec. 1.882-5(a)(1)(ii) or from 
      partnerships includible in column (b).  
      Column (b):  Enter the total from Schedule P, line 8.
For Paperwork Reduction Act Notice, see the Instructions for Form 1120-F.                       Cat. No. 49680W                Schedule I (Form 1120-F) 2021

Schedule I (Form 1120-F) 2021                                                                                                             Page 2 
Step 3 (cont.)     Adjusted U.S. Booked Liabilities Method: Regulations Section 1.882-5(d)
If line 7c is greater than line 8, column (c), complete lines 10 through 13 below and skip lines 14a and 14b.  
If line 7c is less than or equal to line 8, column (c), skip lines 10 through 13 and complete lines 14a and 14b.
10  If the corporation is a foreign bank which is making a current-year election to use a published rate as provided 
    under Regs. sec. 1.882-5(d)(5)(ii)(B), check the box on this line, skip lines 10a through 10c, and enter the rate 
    on line 10d  . . .        . . .  . .       . .      . . .  .   .  . . . .     .   . .  .     . .   . .      . . ▶
a   Total interest paid or accrued during the tax year on U.S. dollar liabilities that are not 
    U.S. booked liabilities included on line 8  .       . . .  .   .  . . . .     .   . .  .       10a
b   Average U.S. dollar denominated liabilities that are    not U.S. booked liabilities included 
    on line 8  .   . .        . . .  . .       . .      . . .  .   .  . . . .     .   . .  .       10b
c   Divide line 10a by line 10b  .   . .       . .      . . .  .   .  . . . .     .   . .  .       10c                 %
d   Enter the published rate, if elected under Regs. sec. 1.882-5(d)(5)(ii)(B)  . .   . .  .       10d                 %
e   Enter the rate from line 10c or, if elected, the published rate on line 10d. See instructions if amount on line 10c is zero 10e                  %
11  Excess U.S.-connected liabilities. Subtract line 8, column (c), from line 7c .    . .  .     . .   . .      . . .  ▶        11
12  Excess interest. Multiply line 10e by line 11  .      . .  .   .  . . . .     .   . .  .     . .   . .      . . .  ▶        12
13  Add line 9, column (c), and line 12  .     . .      . . .  .   .  . . . .     .   . .  .     . .   . .      . . .  .        13
14a Scaling ratio. Divide line 7c by line 8, column (c)     .  .   .  . . . .     .   . .  .     . .   . .      . . .  .        14a                  %
b   Multiply line 9, column (c) by line 14a. See instructions for hedging amounts     . .  .     . .   . .      . . .  .        14b
15  Interest expense allocable to ECI under the adjusted U.S. booked liabilities method.         Enter the result from line 
    13 or line 14b here and on line 21  .      . .      . . .  .   .  . . . .     .   . .  .     . .   . .      . . .  ▶        15
Step 3 (cont.)     Separate Currency Pools Method: Regulations Section 1.882-5(e)
                                                                            (a)                    (b)                 (c)           (d)  
                                                                          U.S. Dollar       Home Country          Other Currency.    Other Currency. 
                                                                        Denominated       Currency. Specify:        Specify:         Specify:
                                                                                        ▶                       ▶                   ▶
16a  U.S. assets.  Enter the corporation’s U.S. assets, using the 
    methodology in Regs. sec. 1.882-5(e)(1)(i). If more columns 
    are needed, attach statement (see instructions)  .      .  .   .
b   Check  here  if  a  less  than  3%  currency  election  was 
    made .     .   . .        . . .  . .       . .      . . .  ▶
17a Enter the percentage from line 6e  .       . .      . . .  .   .                  %                  %                       %                   %
b  U.S.-connected liabilities.    Multiply line 16a by line 17a, or,  
    if a liability reduction election is made, see instructions  . .
18a Enter the total interest expense paid or accrued for the tax 
    year  with  respect  to  the  foreign  corporation’s  worldwide 
    liabilities  denominated  in  that  foreign  currency  (enter  in 
    functional currency)  .     . .  . .       . .      . . .  .   .
b   Enter the corporation’s average worldwide liabilities (whether 
    interest bearing or not) denominated in that foreign currency 
    (enter in functional currency) . . .       . .      . . .  .   .
c   Borrowing rate: Divide line 18a by line 18b  .        . .  .   .                  %                  %                       %                   %
19  Interest  expense  allocation  by  separate  currency  pool. 
    Multiply line 17b by line 18c  . . .       . .      . . .  .   .
20  Interest expense allocable to ECI under the separate currency pools method. Total the amounts on line 19, 
    columns (a) through (d), and amounts from attached statement, if any, and enter the result here and on line 21     .        20
                                                                                                                         Schedule I (Form 1120-F) 2021

Schedule I (Form 1120-F) 2021                                                                                                                    Page 3 
           SUMMARY—Interest Expense Allocation and Deduction under Regulations Section 1.882-5
21   Amount from line 15 or line 20, as applicable  . .   . .  .  .   .  .    . . .    . .                21
22   Enter the corporation’s interest expense directly allocable under Regs. sec. 1.882-5(a)(1)(ii). 
     (Include total from Schedule P, line 7.)  . . .  .   . .  .  .   .  .    . . .    . .                22
23   Interest expense allocable to ECI under Regs. sec. 1.882-5. Add lines 21 and 22  .                 . .  . . . . . ▶                      23
24 a Amount of line 23 that is permanently disallowed as a deduction under the Internal Revenue 
     Code or under an income tax treaty (attach statement—see instructions) . . . .    . .                24a (                              )
b    Amount of line 23 that is deferred as a deduction in the current tax year by a provision of 
     the Internal Revenue Code other than section 163(j) but may be allowed as a deduction 
     in a subsequent tax year (attach statement—see instructions)  .  .  .    . . .    . .                24b (                              )
c    Amount  of  line  23  that  is  disallowed  business  interest  expense  under  section  163(j) 
     (attach Form 8990)       . . . .  .    .    . .  .   . .  .  .   .  .    . . .    . .                24c (                              )
d    Amount  of  line  23  that  is  required  to  be  capitalized  under  certain  provisions  of  the 
     Internal Revenue Code (attach statement—see instructions)    .   .  .    . . .    . .                24d (                              )
e    Amount of interest expense that was deferred in a previous year by a provision of the 
     Internal  Revenue  Code  other  than  section  163(j)  and  allowed  as  a  deduction  in  the 
     current tax year (attach statement—see instructions)   .  .  .   .  .    . . .    . .                24e
f    Amount  of  business  interest  expense  that  was  disallowed  in  a  previous  year  under 
     section 163(j) but allowed as a deduction in the current year  . .  .    . . .    . .                24f
g    Combine lines 24a through 24f  .  .    .    . .  .   . .  .  .   .  .    . . .    . .              . .  . . . . . .                      24g
25   Total interest expense deduction under Regs. sec. 1.882-5.       Combine lines 23 and 24g and enter here and on 
     Form 1120-F, Section II, line 18. The amount entered on line 25 may not exceed the total interest expense paid    or 
     accrued by the foreign corporation .   .    . .  .   . .  .  .   .  .    . . .    . .              . .  . . . . . ▶                      25
                                                                                                                          Schedule I (Form 1120-F) 2021